Eliminate the A/R Tug of War...Stress-free Cash Flow

Eliminate the A / R Tug of War

Nobody wants to go to collections. Not the business owner and certainly not the customer or patient.

When you own a business or medical practice, there are times when bills will go unpaid longer than 30 or 60 days. These delinquent payments can have a negative impact on your account receivables process and could result in your business to have financial setbacks. After all, if your customers or patients are not paying, how do you expect to pay your bills?

Depending on your type of business, the time frame you decide when a payment is late could vary. Most businesses extend 30 day terms. As a business owner or medical practitioner, how do you handle payments that are past due?

• Calling the customer or patient
• Sending out notices and multiple statements
• How much time are you spending out of your day attempting to recover the past due payments?

Many business owners and practice administrators feel they can recover the money while working to build their business and maintain a good relationship with their customers or patients. The moment you stop trying to remind a customer or patient of a late payment and start trying to collect on a debt is when you need to hire a professional collection agency.

The benefit of a professional collection service is that their team understands how to successfully collect the money that is owed to you. Recovery rates are higher than tackling the collection process yourself. Professional collection agencies should also understand the laws and regulations that govern the collection industry.

The thought of turning a customer or patient over to collections can be difficult, especially if, like most business owners, you feel it is important to maintain a healthy and professional relationship with your customer or patient. Make sure your collection agency values your client or patient relationship as much as you do.

Try a professional agency if you want to free up time to work on your business, reduce your account receivables and maintain your relationships. The next step is just a phone call or email away to a Cash Flow and Delinquency Management Specialist for a no-obligation analysis of your Accounts Receivable needs:

Lin Engie, specialized in positively impacting cash flow for businesses and medical practices everyday

Transworld Systems on the Gulf Coast

lin.engie@transworldsystems.com

850.266.7791

Happy Thanksgiving!

As we get ready to celebrate Thanksgiving Day with our family and friends tomorrow and the rest of the weekend, I want to thank you all for your friendship, your business, your referrals, and the opportunity to be of service to you.  And to my family members who cannot be here to share this special event with us, I thank you for your love and caring throughout the year, and look forward to meeting up soon!

We have many blessings to be thankful for - good health, loving family, caring friends, lots of opportunities to grow professionally and personally, lots of opportunities  to give back to the community, improving economy, and the most beautiful white sand beaches anywhere in the world!

I wish you and yours a Blessed Thanksgiving, and may you enjoy a bountiful year of good health, successes in all your endeavors, and interesting travels!

Here are some of my favorite 'Gratitude' and Charlie Brown classic Thanksgiving videos you may enjoy....

http://www.youtube.com/watch?v=Jrp5Ri2GZ38&feature=related (the Power of Gratitude)

http://www.youtube.com/watch?v=k1_if2VkJFo (Gratitude and Thanksgiving Quotes for Success)

http://www.youtube.com/watch?v=RjCTRt_f5sE (The Amazing Joy & Power of Gratitude)

http://www.youtube.com/watch?NR=1&v=c2iv7QufAn0&feature=endscreen (Charlie Brown)

Happy Thanksgiving!

Lin Engie
Cash Flow & Delinquency Management Specialist
Transworld Systems on the Gulf Coast
lin.engie@transworldsystems.com
http://www.linkedin.com/in/linengie
850.266.7791

Turkish Delights

Recently, I went on a fascinating trip to Turkey and thoroughly enjoyed the rich history and the beautiful, varied landscapes. We (my husband, Kean, and friends from California) joined a tour that took us to Istanbul, Ankara, Cappadoccia, down to the Mediterranean Sea, and then back west to the Aegean Sea, and up to Istanbul again. Prior to the trip, I was not aware that we would be travelling through mountain ranges that were still covered in snow, and within the next day, we would be travelling through desert-like landscapes. I was obviously quite ignorant about the country and all it has to offer.  If you love fruits and nuts (and Turkish Delights), Turkey is the place to be.  I had my fill of dried apricots, figs, pomegranates, olives, chickpeas, walnuts, pistachios, and fresh almonds.  Breakfast buffets were fabulous with fresh yogurt, molasses, honey, and tahini.

Turks are hardworking and industrious people. One interesting thing we learned from our Tour Guide was that farms in Turkey are operated almost as co-ops.  Individually-owned family farms are clustered together, with central villages where the farm families in that area reside together.  Farmers in each area share large equipment to save costs, and help one another throughout the growing and harvesting seasons.  The Turkish government fixes pricing, and handles the sale of farm produce, so farmers can focus on cultivating and harvesting the best produce. As long as they have a harvest, they are guaranteed a sale of their produce at a fixed price to the government. The government then sells the produce on the market to factories or exports them.

Seems like an elegant and efficient way to handle farm operations; farmers can focus on what they do best, without any worry on the business side of operating the farm.  Streamlining this farming process allows Turkey to be one of the world leaders in the production of agriculture.  According to Wikipedia, as of March 2007, Turkey is the world's largest producer of hazelnut, cherry, fig, apricot, quince and pomegranate; the second largest producer of watermelon, cucumber and chickpea; the third largest producer of tomato, eggplant, green pepper, lentil (they make the most delicious lentil soups) and pistachio; and the fourth largest producer of onion and olive.  Other major products are tea, apple, cotton, and almonds.  Turkey has been self-sufficient in food production since the 1980s. Did you know that Turkey is a major exporter of textiles, automotive, steel, iron, and pharmaceuticals?  How about Turkey being a major shipbuilding country?

Many studies show that you can be more productive by focusing on your core skills, and outsource the secondary tasks to other experts.  If you operate a business and you extend credit to your clients, or if you are a medical doctor or dentist, it is often more cost-effective to outsource some of your back office operations to specialized companies who can do them more efficiently, more effectively, and at a lower cost. One such function is managing cash flow and delinquent accounts.  Are you and your staff stressed about following up with slow-paying and non-paying clients or patients?  Do you know that there is an alternative to a high percentage collection agency - one that offers a diplomatic approach, so you can retain your client or patient relationship?

Transworld Systems is a national cash flow and delinquency management company that has been helping businesses of all sizes effectively collect for over 41 years.  Our innovative in-house tools allow you to professionally and diplomatically collect without alienating your clients or patients.  You maintain control and keep 100% of what is collected. If you are tired of clients or patients ignoring your monthly statements, let's chat and see if you qualify for our services. Give me a call @ 850.266.7791, send me an e-mail, or message me on Facebook: https://www.facebook.com/TransworldSystemsOnTheGulfCoast.

Where have you traveled to recently?  What exciting travel plans do you have this summer?  I would love to hear from you.

May you have a fabulous summer!

Lin Engie
Cash Flow and Delinquency Management Specialist
Transworld Systems on the Gulf Coast
850.266.7791

Spring Festivals

'Those who bring sunshine to the lives of others
cannot keep it from themselves.' - Sir James M. Barrie

I wish all of you can enjoy the beautiful sunshine we have in Pensacola this time of the year - warm sunny days, cool nights, with some occasional rains.  We are truly blessed with beautiful Spring weather here, and with a really mild winter this year, we are enjoying an exceptionally long Spring season.

Spring, of course, is a time of rebirth, and renewal, and is celebrated around the world with joyful and colorful festivals. Hindus in south Asia herald in Spring with the Festival of Colors, Holi. They celebrate by throwing colored powder at one another, and with bonfires, bidding farewell to dreary Winter, and welcoming the abundant and vibrant colors of Spring.  In Thailand, the Songkran or Water Festival is a 3-day celebration of the Thai New Year.  The ritual symbolizes the cleansing of the body, spirit and mind.  No one escapes being drenched (or 'cleansed') during these 3 days of celebration! The Japanese, always associated with delicacy and beauty, celebrate hanami - cherry blossom viewing - by having picnics under cherry blossom trees in parks, usually between March and May. And of course, the most important Spring event for Christians is Easter, the resurrection of the Lord, Jesus Christ.

How do you celebrate Spring?  I invite you to share in the comment box below.

Spring brings a new cycle of life and hope, and it is also the perfect time to reflect, review, and renew goals. Do you have recent successes to celebrate?  I hope you do.  Are there areas in your life or business that needs sprucing up? What can you do to add some 'color' and enthusiasm? Are you on track with your personal, health, or financial goals? If not, why not?

As a business Cash Flow coach for businesses, I can offer some suggestions on one aspect of your business financial health - your cash flow.  This is an article on Ways to Maximize Cash Flow that I contributed to the March/April 2012 issue of The Bulletin, published by the Escambia Medical Society.  The principles can be applied to any business.  Enjoy!

It's never too late to plan for your own successes.  Since Spring brings new energy and warmth to the whole environment, I hope it energizes you to re-visit areas of your business or career that stayed dormant, like the Winter that just passed. Go out, re-connect, and network with friends, colleagues, and mentors.  Catch the excitement that Spring brings, and celebrate the season!

Lin Engie
Delinquency Management Specialist
lin.engie@transworldsystems.com
850.266.7791
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